TacticScaleWhat Glaukos Does & How It Makes Money (GKOS)
Updated October 2026 · reflects Glaukos's latest reported financials
Eye-care company making glaucoma implants, drug implants and corneal therapies. Glaukos sells its stents, drug implants and related therapies to ambulatory surgery centers, hospitals and eye-doctor practices.
How Glaukos makes money
Glaukos sells its stents, drug implants and related therapies to ambulatory surgery centers, hospitals and eye-doctor practices. It sells through its own direct sales force, direct sales subsidiaries and distributors in the U.S. and internationally.
What Glaukos does
Glaukos Corporation is an ophthalmic medical technology and pharmaceutical company focused on glaucoma, corneal disorders and retinal diseases. Its core franchise is the iStent family of micro-bypass stents, which treat open-angle glaucoma by restoring the eye's natural outflow of aqueous humor. iStent inject W targets mild-to-moderate cases, and iStent infinite is for patients whose glaucoma is not controlled by prior medical and surgical therapy. It has added iDose TR, a procedural drug therapy placed inside the eye to lower intraocular pressure in open-angle glaucoma or ocular hypertension. Beyond glaucoma, Glaukos develops iLink for keratoconus, treated without removing the epithelium (the cornea's outer layer). It also develops ILution, a cream applied to the eyelid that delivers drugs without eye drops, and a retinal extended-release platform for conditions such as age-related macular degeneration, diabetic macular edema and retinal vein occlusion. The company sells to surgery centers, hospitals and physician practices through direct sales and distributors. It was incorporated in 1998, was formerly called Transdx, Inc., and is headquartered in Aliso Viejo, California.
Products & services
- iStent
- iStent inject W
- iStent infinite
- iDose TR
- iLink
- ILution
What is Glaukos worth?
On an owner-earnings DCF, Glaukos's most-likely value is about $38 versus a recent price near $166 (77% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$5) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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